Juwi Sells Large Greek Solar Portfolio to Foresight And Mirova

Wörrstadt, Germany - The Juwi Group has reached an agreement with the British company Foresight and the French company Mirova on the sale of a solar project in Greece. Following the conclusion of the purchase agreements (M&A), Juwi was commissioned with the EPC and O&M activities.

With the current transaction and the resulting commissioning, MVV's project development company Juwi has once again successfully benefited from its diversified business strategy. This is based on in-house development, but also on the acquisition of mature project rights.

Greek solar park with 267 MW capacity - construction to start in 2024

In November 2023, the Greek subsidiary of the Juwi Group, Juwi Hellas, acquired a photovoltaic portfolio with a total capacity of 267 MW from Hive Energy Ltd. This portfolio consists of three clusters (160 MW, 40 MW and 67 MW).

The solar projects have now been sold to Foresight and Mirova. They are located in the central Greek regions of Fthiotida and Larissa, around 300 kilometers north of Athens. Juwi will implement the project portfolio as an EPC service provider and is therefore responsible for the technical design (engineering), component purchasing (procurement) and construction, the company announced. Commissioning is planned for 2026 and Juwi will be responsible for the technical operation and maintenance (O&M) of the solar plants.

TranslatSolar power for 100,000 Greeks

In total, around 430,000 bifacial solar modules and over 800 string inverters will be installed in the projects of the former Hive portfolio. Around 16,000 single-axis tracking systems will ensure that the system's solar modules follow the daily path of the sun.

According to the plans, the PV systems will generate a total of around 515 million kWh of clean electricity per year. This is roughly equivalent to the electricity requirements of more than 100,000 Greeks. The solar park covers an area of around 430 hectares and is therefore the size of more than 600 football fields.

Juwi: Project pipeline with over 500 MW of solar capacity in Greece

Juwi benefits from a differentiated business strategy that includes in-house development as well as the acquisition of mature project rights: Current examples include the 204 MW solar park in Kozani, Greece, and the 223 MW “Pike” solar park in Colorado, USA.

"Juwi currently has a pipeline of 500 megawatts of solar projects in various stages of development in Greece. With the combined capacity of 267 megawatts, the Foresight and Mirova solar portfolio will be the largest in our history. This underlines our role as one of the leading project development companies in selected foreign markets,” emphasizes Stephan Hansen, COO of the Juwi Group and responsible for international business.

Source: IWR Online, 29 Jul 2024